A great place to live and work

When you work with a Real Estate agent, the term “agency relationship” may confuse you. Here’s a short explanation of the three types of agency relationships:

Buyer’s Agent: When you are planning to buy a home, you will work with a buyer’s agent. The agent that you choose has fiduciary responsibility to you. In other words, the agent will work for your best interests and will provide reasonable care, loyalty, and confidentiality. With a buyer’s agent, you can trust that s/he will not reveal information that may impact negotiations.

Seller’s Agent: When you are selling your home, you will work with a seller’s agent. The agent that you choose will have fiduciary responsibility to you. S/he will be responsible for providing reasonable care, loyalty, and confidentiality to you within the confines of the law.

Dual Disclosed Agent: When the same agent represents the buyer and the seller, the agent has fiduciary responsibility to both parties. S/he can not reveal anything confidential that may impact negotiations and must work in a way that helps both parties reach a meeting of the minds without compromising one party over the other.

What’s the most important factor in choosing an agent? Trust. Second most important factor? Competence.

For more information:


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Tag Cloud

%d bloggers like this: